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of <h1>Supreme Court affirms Kerala High Court on statutory deduction calculation under Income-tax Act, 1961</h1> The Supreme Court upheld the Kerala High Court's decision on the calculation of statutory deduction under section 36(1)(viii) of the Income-tax Act, 1961, ... Whether the Tribunal was right in law in holding that the statutory deduction under section 36(1)(viii) of the Income-tax Act, 1961, should be calculated on the total income before deduction of the amount allowable under the section - Held, yes The Supreme Court upheld the Kerala High Court's decision regarding the calculation of statutory deduction under section 36(1)(viii) of the Income-tax Act, 1961. The High Court's interpretation was supported by other High Courts and subsequent amendments to the relevant sub-clause. The Supreme Court dismissed the appeals, agreeing with the High Court's decision in favor of the assessee.
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